How does the falling yen affect the value of cryptocurrencies?

1 answers

• Nov 24, 2021 · 3 years ago
  At BYDFi, we believe that the falling yen can have a significant impact on the value of cryptocurrencies. As the yen weakens, Japanese investors may look to diversify their holdings and allocate a portion of their assets into cryptocurrencies. This increased demand can drive up the value of cryptocurrencies, especially if other factors such as positive market sentiment and favorable regulatory developments are also present. However, it's important to note that the relationship between the yen and cryptocurrencies is not the sole determinant of their value, and other factors such as global market trends and investor sentiment also play a crucial role.
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